35 35 Page 34 Contd on pg 36 low grade stockpile was partially of set by the increased productio n at the Hollinger Open Pit Production in 2016 was 277000 ounces AISC for the fourth quarter of 2016 were lower compared to the fourth of 2015 due to lower production costs that were partially ofset by lower gold production Gold productio n in 2017 from Por cupine is expected to total 285000 ounces 5 with AISC expected to be 900 per ounce 5 consis tent with 2016 The company has two other Ontario producers Red Lake and Mussel white The Red lake Complex s fourth quar ter gold production totaled 88000 ounces at an AISC of 932 per ounce Production was lower compared to the fourth quarter of 2015 due to lower tonnes from the depletio n of the Campbell Mine as well as a focus on mine development to increase mining front availability AISC in the fourth quarter were lower than the fourth quarter of 2015 due to lower production costs and lower sustaining capital partially ofset by lower gold production Gold productio n in 2017 is expected to total 300000 ounces 5 At Musselwhite fourth quarter gold production totaled 75000 ounces at an AISC of 696 per ounce Produc tion decreased compared to the fourth quarter of 2015 due to lower head grade and a lower recovery rate AISC for the fourth quarter were es sentially unchanged from the fourth quarter of 2015 due to reduced oper ating costs ofset by lower gold pro duction Gold productio n in 2017 is expected to total 265000 ounces 5 in line with 2016 AISC in 2017 is ex pected to be 715 per ounce WHY HYUND AI B UI LT TO PER F O R M We k now that an en te r p r isi ng and p ione ering sp irit i s the key to b usin ess gr ow th Because w e share our cu sto mer s w or k et hic w e b uild mach in es t hat p erf or m d ay in a nd d ay o ut to the mee t t heir tou g hest e x p ect at ions a nd q ualit y sta nd ard s A t H y und ai w e und erstan d that even t he b est q uali ty pro d uc ts req uir e e x c ep ti onal sup p or t We k now that the p artne r ship ou r cu stomer s hav e with thei r eq uip ment d ea ler is cr it ical to t heir c onfid en ce in ou r mach in es Th at s w hy w e a r e const an tly w or k in g to g r o w an d st r en g then the ne two r k of d ea ler s serv in g ou r cu stomer s an d t heir busine sses I NDUSTR Y LEAD I NG S TANDAR D W AR RA NTIE S F or S ta nd ard War r an ty o r E x te nd ed War r an ty D et ai ls p lea se con ta ct y ou r ne arest H y und ai C onstr uc ti on E q uip ment C J E q uip men t Re p ai r s 1 5 5 Go v ernment Road Tim mins O nt ario 705 531 55 13 H ood E q uip ment C an ad a 1 5 5 Go v ernment Road Tim mins O nt ario 705 288 46 85 Contd from pg 32 By Gregory Reynolds Goldcorp Inc plans to spend 100 million on exploration in 2017 Further in an update of its 2016 17 exploration programs Goldcorp unveiled a new growth strategy to increase reserves over the next fve years by 20 to 50 million ounces Increased tar geted drilling on the company s lar ge underexplored land packages and the resource conver sion at Penasquito Pueblo V iejo and Dome Century position it to achieve its strategy Paul Harbidge senior vicepresident exploration said in 2017 with an exploration budget currently tar geted at 100 millio n we are focused on expanding and upgrading the quality of our reserves and resources through the continuation of our drill programs and the review of the results as we complete our generative study work Exploration advanced aggressively across the company s project portfo lio during the fourth quarter of 2016 in line with the brownfelds strategic focus of reserve replacement as well as providing a pipeline of future op portunities for evaluation During the quarter we also continued to advance generative studies across a number of the districts for reinterpretation of the geological information with the aim of extendi ng the reserves and re sources of our current operations Goldcorp is a senior gold producer fo cused on responsible mining practices with safe lowcost production from a highquality portfolio of mines A key part of the company s portfolio of mines and development projects is Porcupine Gold Mines The Por cupine Comple x is wholly owned by Goldcorp Porcupine has four producing mines Hoyle Pond and Hoyle Pond Exten sion Hollinger and Dome as well as the Dome mill It also has three devel opment projects Owl Creek Coniau rum and Borden The Dome Century Project is a poten tial lar gescale open pit mine and re lated processing facility at the under ground Dome Mine A concept study is underway to examine engineering waste rock management and econom ics and to evaluate developme nt of an expanded open pit mine and related processing facility In addition to the current mineral re source estimat e at the Dome Pit the prefeasibility study will incorporate a review of additional potential mill feed including the Pamour Open Pit and the Pamour W est Open Pit The Porcupine 2017 exploration bud exploration pr ogram Goldcorp being conducted in 2017 100 million Page 34 Page 35 WHY HYUND AI B UI LT TO PER F O R M We k now that an en te r p r isi ng and p ione ering sp irit i s the key to b usin ess gr ow th Because w e share our cu sto mer s w or k et hic w e b uild mach in es t hat p erf or m d ay in a nd d ay o ut to the mee t t heir tou g hest e x p ect at ions a nd q ualit y sta nd ard s A t H y und ai w e und erstan d that even t he b est q uali ty pro d uc ts req uir e e x c ep ti onal sup p or t We k now that the p artne r ship ou r cu stomer s hav e with thei r eq uip ment d ea ler is cr it ical to t heir c onfid en ce in ou r mach in es Th at s w hy w e a r e const an tly w or k in g to g r o w an d st r en g then the ne two r k of d ea ler s serv in g ou r cu stomer s an d t heir busine sses I NDUSTR Y LEAD I NG S TANDAR D W AR RA NTIE S F or S ta nd ard War r an ty o r E x te nd ed War r an ty D et ai ls p lea se con ta ct y ou r ne arest H y und ai C onstr uc ti on E q uip ment C J E q uip men t Re p ai r s 1 5 5 Go v ernment Road Tim mins O nt ario 705 531 55 13 H ood E q uip ment C an ad a 1 5 5 Go v ernment Road Tim mins O nt ario 705 288 46 85